While many states now have more jobs than at any point in time, others are struggling just to get back to their pre-recession employment levels. Worse, not only is it difficult to find a job in many markets, it’s even more challenging to find full-time employment. Once again I invoke the TINSTAANREM clause — There Is No Such Thing As A National Real Estate Market. Each real estate market is different. Ditto their underlying economies.
Several factors come into play:
- How fast the work force is growing — essentially a supply number of potential workers defined as all those who are able to work
- Current unemployment rate – those members of the work force actively searching for a job but are unable to find one
- Underemployment rate — 1. Workers with a part-time job desiring full-time employment 2. Highly skilled workers in low-paying jobs 3. Highly skilled workers in low-skilled jobs
Where is it easiest or most difficult to find full-time jobs in the U.S.? To answer that, 24/7 Wall St looked at the following metrics and ranked each state (with data taken from the Bureau of Labor Statistics unless otherwise stated):
- Average underemployment rates for the 12 months ending June 2016
- June 2016 unemployment rate versus June 2015
- Median annual wage, employment, unemployment and labor force size from 2005 – 2015
- Socioeconomic indicators including poverty rates and educational attainment levels — from U.S. Census Bureau’s 2013 American Community Survey
The first table ranks the most difficult states to find full-time employment and the second the easiest.
To read the entire 24/7 Wall St article including rankings and details on all 50 states click http://247wallst.com/special-report/2016/08/10/easiest-and-hardest-states-to-find-full-time-work/
The following table shows the latest job growth for all 50 states for the 12-month ending June 2016.
How quick can job growth change? Just two years ago North Dakota was the number one job growth state based on the percentages, today they are last.